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Using T Accounts To Record Transactions

Use T accounts to record transactions involving assets, liabilites and owners equity for the following:

1. James walker made an additional investment of $16000 in cash.
2. A firm purchased equipment for $9000 in cash
3. A firm sold some surplus office furniture for $1200 in cash
4. A firm purchased a computer for $2700 to be paid in 60 days
5. A firm purchased office equipment for $10200 on credit. the amount is due 60 day
6. Carol rose, owner of rose travel agency withdrew $5000 of her original cash investment.
7. A firm bought a delivery truck for $32000 on credit, payment is due 90 days
8. A firm issued a check for $2500 to a supplier in partial payment of an open account balance.

Solution Summary

Use T accounts to record transactions involving assets, liabilites and owners equity for the following:

1. James walker made an additional investment of $16000 in cash.
2. A firm purchased equipment for $9000 in cash
3. A firm sold some surplus office furniture for $1200 in cash
4. A firm purchased a computer for $2700 to be paid in 60 days
5. A firm purchased office equipment for $10200 on credit. the amount is due 60 day
6. Carol rose, owner of rose travel agency withdrew $5000 of her original cash investment.
7. A firm bought a delivery truck for $32000 on credit, payment is due 90 days
8. A firm issued a check for $2500 to a supplier in partial payment of an open account balance.

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